Halal abdel nasser took over the Suez Canal because he needed the money from it

Gamal Abdel Nasser President of Egypt, nationalized the Suez Canal in July of 1956. He was hopping to collect fees from all merchant vessels using this waterway. He needed the money for a dam construction project on the Nile, which he has been trying to begin. The Canal belonged to the British and the French.

The Suez Canal had had a very controversial history since its opening in 1869 by French engineers. After the nationalization by Egyptian president Nasser, Israel responded by invading and occupying the canal area. Later, the British and French followed, and they too established themselves in the zone.

Eventually; Israel, Britain and France withdrew their forces and in 1957 Egypt took control of the canal and allowed commercial shipping again.

Unfortunately, In 1967 there was a Six Day War between Egypt and Israel, and one more time the canal was closed, this time for the next eight years. Finally, in 1975 then President of Egypt Anwar el-Sadat trying to express a good will gesture to Israel and the world, opened the canal and it has remained like that to the present time.